Bitcoin's runaway rally is being driven by investors in Asia. Traders in South Korea, China and other Asian countries are responsible for roughly 70% of bitcoin trading volumes, much like they were in 2021 when bitcoin last hit such heady highs, according to crypto exchange data from The Block. Asia accounted for $791 billion of the $1.17 trillion worth of bitcoin traded in February, with North American investors lagging way behind with $113 billion, broadly reflecting a trend seen since November, the data shows.